Private Money Loans in Oak Hills

Are you looking for a home loan in Oak Hills? All American Financial Services has been serving the Antelope Valley for almost twenty years. We are widely known for our knowledge about home loan financing and for our honest and upfront pricing. Here are a few helpful hints and tricks about what you really should do before requesting for a mortgage loan!

Employment: It’s just a simple fact that lenders are going to want to know you have been employed for at least two years in the comparable company before offering you hundreds of thousands of dollars. The simple fact is that they want to know you can pay back the home loan without defaulting. However, there are some exceptions. Lenders are for the most part okay with the fact that you may have had 3 jobs in the comparable line of work over the last several years. Just call All American Financial Services; your home loans experts today at 661-949-6681.

Down Payment: The most cost-efficient way to buy a house is to have a twenty% down payment. This will make sure that you will avoid personal mortgage insurance, otherwise known as PMI.

Personal Mortgage Insurance is an additional fee that you’ll pay for having less than a 20% home loan down payment. Picture it as an insurance plan for the mortgage owner for offering a home loan at a greater loan-to-value ratio. So, if you were to buy a $300,000 home in Oak Hills, the lender wants you have $60,000.

However, keep in mind that in order to obtain a home loan, you must have at least six months of mortgage payment in reserve. We know it sounds complicated, but just pick up the phone and call All American Financial Services today.

Debt to Income Ratio: Having a debt to income ratio of higher than 33% can be cause for concern. Home loan lenders want to know that you do not have an overwhelming amount of debt before you buy a new home. With that in mind, let’s use the following figures for example: Lets say you have a $6,000 gross monthly income, you really should have no more in monthly debt than $1,980.

Fixing Your Credit: Everyone wants to have the lowest interest rate on a home loan. This is why it’s so important to have great credit when requesting for home loan financing. Our team at All American Financial Services has credit repair analysts that will help get rid of negative items from your credit report. In order to receive the best interest rate, you should have a FICO score of 720 or more. Just pick up the phone today to get qualified for a new home loan.

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Our Services

Private Money Loans

Private money financing is between a borrower and private individual

Conventional Loans

This type of loan is available to most borrowers for the purchase or refinance

FHA Loans

This type of loan is available only for owner occupied residential structures

100% Financing Loans

Have less than 20% down payment? Call today to get qualified for 100% financing

VA Loans

This type loan is available for qualified veterans who’s served our country

Home Loan Refinance

Looking for rate and term refinance? Or for debt consolidation? Call us today

slade@aafsloans.com

661.949.6681

530 West Commerce Avenue Suite B, Palmdale CA, 93551

All American Financial Services History!
All American Financial Services was started in 1990 with the vision and foresight of Slade Lohman, Real Estate Broker (California Bureau of Real Estate BRE #01134557, NMLS #276140).

After observing the unethical behaviors of different lenders, Slade had a burning desire to make a difference in the industry. To begin this journey, he obtained a Real Estate Broker's License and began All American Financial Services.

Slade fulfills his aspiration to help people by assisting them in making the right Real Estate Loan And Investment decisions.